Revised final 1/29/18 2017 Form M2X, Amended Income Tax Return for Estates and Trusts *172911* Tax year beginning (mm/dd/yyyy) and ending (mm/dd/yyyy) Name of estate or trust Check if name has changed: Federal ID number Minnesota tax ID number Name and title of fiduciary Decedent s Social Security number Date of Death Current address of fiduciary City State Zip code Decedent s last address or grantor s address when trust became irrev. City State Zip code Check box(es) indicating reason(s) you are amending: Number of Number of Schedules KF beneficiaries Amended federal return IRS adjustment Changes affect Schedules KF Net operating loss carried back from tax year ending Installment sale of pass-through assets or interests Other A As previously reported B Net change C Corrected amount 1 Federal taxable income (from federal Form 1041)... 1 2 Deductions and losses not allowed (from Form M2, line 2)... 2 3 Capital gain amount of lump-sum distribution... 3 4 Additions (from line 49, on page 3 of this form)... 4 5 Add lines 1 through 4... 5 6 Subtractions (from line 49, on page 3 of this form)... 6 7 Fiduciary s income from non-minnesota sources... 7 8 Add lines 6 and 7... 8 9 Minnesota taxable net income (subtract line 8 from line 5)... 9 10 Tax from table on pages 10 13 of the M2 instructions... 10 11 Tax from S portion of ESBT (from Schedule M2SB)... 11 12 Total of tax from (enclose appropriate schedules): Schedule M1LS Schedule M2MT... 12 13 Composite income tax for nonresidents (enclose Schedules KF)... 13 14 Total income tax (add lines 10 through 13)... 14 15 Estimated tax and/or extension payments... 15 16 Minnesota tax withheld (enclose documentation)... 16 17 Other refundable credits... 17 18 Other nonrefundable credits... 18 9995
2017 M2X, page 2 *172921* 19 Amount due from original Form M2 (see instructions)... 19 20 Total credits and tax paid (add lines 15C through 18C and line 19)... 20 21 Refund amount from original Form M2, line 21 (see instructions)... 21 22 Subtract line 21 from line 20 (if result is less than zero, enter the negative amount)... 22 23 Tax you owe (if line 14C is more than line 22, subtract line 22 from line 14C. If line 22 is a negative amount, see instructions)... 23 24 If you failed to timely report federal changes or the IRS assessed a penalty (see instructions)... 24 25 Add lines 23 and 24... 25 26 Interest (see instructions)... 26 27 AMOUNT DUE (add lines 25 and 26). Payment method: Electronic Check (attach voucher)... 27 28 REFUND DUE (if line 22 is more than line 14C, subtract line 14C from line 22)............................... 28 29 To have your refund direct deposited, enter the following. Otherwise, you will receive a check. Account type: Routing number Account number (use an account not associated with any foreign banks) Checking Savings Signature of fiduciary or officer representing fiduciary Print name of contact MN ID or Soc. Sec. number Date Daytime Phone Paid preparer s signature MN ID number, SSN or PTIN Date Daytime phone I authorize the Minnesota Department of Revenue to discuss this tax return with the preparer. Explain net changes on next page. Mail to: Minnesota Amended Fiduciary Tax, Mail Station 1310, St. Paul, MN 55145-1310. 9995
2017 M2X, page 3 Adjustments to Income 30 State and municipal bond interest from outside Minnesota... 30 *172931* A As previously reported B Net change C Corrected amount 31 State income tax deducted on federal return... 31 32 Expenses deducted on your federal return that are attributable to income not taxed by Minnesota (other than U.S. bond interest)... 32 33 80 percent of suspended loss from 2001-2005 or 2008-2016 on federal return generated by bonus depreciation... 33 34 80 percent of federal bonus depreciation... 34 35 Fines, fees and penalties deducted federally as trade or business expense... 35 36 Addition due to federal changes not adopted... 36a by Minnesota 36b 37 Net operating loss carryover adjustment... 37 38 Domestic production activities deduction... 38 39 Add lines 30 through 38. Also enter the amount from line 39C on line 50, column E, under Additions... 39 40 Interest on U.S. government bond obligations, minus expenses deducted on federal return that are attributable to this income... 40 41 State income tax refund included on federal return... 41 42 Federal bonus depreciation subtraction... 42 43 Subtraction due to federal changes not adopted.. 43a by Minnesota 43b 44 Subtraction for prior addback of reacquisition of business indebtedness income... 44 45 Subtraction for railroad maintenance expenses... 45 46 Net operating loss carryover adjustment... 46 47 Add lines 40 through 46. Also enter the amount from line 47C on line 50, column E, under Subtractions... 47 A B C D E Beneficiary s Social Share of federal Percent of total on Shares assignable to beneficiary and to fiduciary Name of each beneficiary Security number distributable net income line 50, column C Additions Subtractions 48 % % % 49 Fiduciary % 50 Total 100% Explain each change in detail on the back of this sheet. 9995
EXPLANATION OF CHANGE Explain each change in detail in the space provided below. Use a separate sheet, if needed. If the changes involve items requiring supporting information, be sure to attach the appropriate schedule, statement or form to Form M2X to verify the correct amount.
Instructions for 2017 Form M2X For additional information, refer to the 2017 Form M2 instructions Who Should File M2X? This form should be filed by fiduciaries to correct or amend an original 2017 Minnesota fiduciary return. Federal return adjustments. If the Internal Revenue Service (IRS) changes or audits your federal return or you amend your federal return and it affects your Minnesota return or distributions to beneficiaries, you have 180 days to file an amended Minnesota return. If you are filing Form M2X based on an IRS adjustment, be sure to check the box in the heading and attach to your Form M2X a complete copy of your amended federal return or the correction notice you received from the IRS. If the changes do not affect your Minnesota return or Schedules K-1, you have 180 days to send a letter of explanation to the department. Send your letter and a complete copy of your amended federal return or the correction notice you received from the IRS to: Minnesota Fiduciary Tax, Mail Station 5140, St. Paul, MN 55146-5140. If you fail to report as required, a 10 percent penalty will be assessed on any additional tax. See line 24 instructions. Claim for refund. Use Form M2X to make a claim for refund and report changes to your Minnesota liability. If you make a claim for a refund and we do not act on it within six months of the date filed, you may bring an action in the district court or the tax court. When to File File Form M2X only after you have filed your original return. You may file Form M2X within 3½ years after the return was due or within one year from the date of an order assessing tax, whichever is later. If you filed your original return under an extension by the extended due date, you have up to 3½ years from the extended due date to file the amended return. Filing Reminders The amended return must be signed by the fiduciary or authorized officer of the organization receiving, controlling or managing the income of the estate or trust. The person must also include his or her ID number. If someone other than the fiduciary prepared the return, the preparer must also sign. Round amounts to the nearest dollar. Drop amounts less than 50 cents and increase amounts 50 cents or more to the next higher dollar. Forms and information are available on our website at www.revenue.state.mn.us. If you need help completing your amended return, call 651-556-3075. We ll provide information in other formats upon request. Explanation On the back of Form M2X, include a detailed explanation of why the original return was incorrect. Providing this information will help us verify the amended amounts. Use of Information All information provided on this form is private, except for your Minnesota tax ID number, which is public. Private information cannot be given to others except as provided by state law. The identity and income information of the beneficiaries are required under state law so the department can determine the beneficiaries correct Minnesota taxable income and verify if the beneficiaries have filed returns and paid the tax. The Social Security numbers of the beneficiaries are required to be reported on Schedule KF under M.S. 289A.12, subd. 13. Lines 1 18 and 30 47 Columns A, B, C Column A: Enter the amounts shown on your original return or as later adjusted by an amended return or audit report. Column B: Enter the dollar amount of each change as an increase or decrease for each line you are changing. Show all decreases in parentheses. On the back of Form M2X, explain the changes in detail. If the changes involve items requiring supporting information, attach to Form M2X the appropriate schedule, statement or form to verify the corrected amount. Column C: Enter the corrected amounts after the increases or decreases. If there are no changes, enter the amount from column A. Line 19 Enter the total of the following tax amounts, whether or not paid. 1. For the original M2 return, the amount from: Line 14 of the 2010 or earlier M2; or Line 16 of the 2011-2017 M2. 2. For all previously filed M2X Returns, the amount from: Line 22 of the 2009 or earlier M2X; or Line 23 of the 2010 M2X; or Line 25 of the 2011-2013 M2X; or Line 24 of the 2014-2015 M2X; or Line 23 of the 2016 M2X. 3. Additional tax due as the result of an audit or notice of change. Do not include any amounts that were paid for penalty, interest or underpayment of estimated tax. Line 21 Enter the total of the following refund amounts, whether or not the refund has been received. 1. For the original M2 return, the amount from: Line 19 of the 2010 or earlier M2; or Line 21 of the 2011-2017 M2. 2. For all previously filed M2X Returns, the amount from: Line 27 of the 2009 or earlier M2X; or Line 28 of the 2010 M2X; or Line 30 of the 2011-2015 M2X; or Line 28 of the 2016-2017 M2X. 3. Refund or reduction in tax from a protest or other type of audit adjustment. Include any amount that was credited to estimated tax or applied to pay past due taxes. Do not include any interest that may have been included in the refunds you received. If the refund amount on your original return was reduced by an additional charge for underpaying estimated tax reported on: Line 27 of the 2010 or earlier M2; or Line 29 of the 2011-2017 M2, Then when figuring the amount to enter on the 2017 M2X Line 22, add the amount from this line to the amount reported on: Line 19 of the 2010 or earlier M2, or Line 21 of the 2011-2017 M2. Continued
2017 Form M2X instructions (continued) Lines 23 and 28 Lines 23 and 28 should reflect the changes to your tax and/or credits as reported on lines 1 through 18 of Form M2X. If you have unpaid taxes on your original Form M2, this amended return is not intended to show your corrected balance due. Line 23 If line 22 is a negative amount, treat it as a positive amount and add it to line 14C. Enter the result on line 23. This is the amount you owe, which is due when you file your amended return. You cannot use any funds in your estimated tax account to pay this amount. Continue with line 24. Line 24 If only one of the penalties below applies, you must multiply line 23 by 10 percent (.10). If both penalties apply, multiply line 23 by 20 percent (.20). Enter the result on line 24. The IRS assessed a penalty for negligence or disregard of rules or regulations, and/or You failed to report federal changes to the department within 180 days as required. Line 26 Interest is calculated as simple interest and accrues on unpaid tax and penalties from the regular due date until it is paid in full. Use the formula below with the appropriate interest rate: Interest = line 25 x number of days past the due date x interest rate 365 If the days fall in more than one calendar year, you must determine the number of days separately for each year. The interest rate for 2018 is 4 percent. Penalty will be assessed if the additional tax and interest are not paid with the amended return. Line 27 Pay Electronically. Visit our website at www.revenue.state.mn.us and log in to e-services. If you don t have Internet access, call 1 800-570 3329 to pay by phone. When paying electronically, you must use an account not associated with any foreign banks. Pay by Check. Visit our website at www. revenue.state.mn.us and click on Make a Payment and then By check to create a voucher. Print and mail the voucher with a check made payable to Minnesota Revenue. When you pay by check, your check authorizes us to make a one-time electronic fund transfer from your account. You may not receive your cancelled check. Line 28 If you want your refund to be directly deposited into your bank account, complete line 29. Your bank statement will indicate when your refund was deposited to your account. Otherwise, skip line 29 and your refund will be sent to you in the mail. This refund cannot be applied to your estimated tax account. Line 29 If you want your refund to be directly deposited into your checking or savings account, enter the routing and account numbers. You can find your bank s routing number and account number on the bottom of your check. The routing number must have nine digits. The account number may contain up to 17 digits (both numbers and letters). If your account number contains less than 17 digits, enter the number and leave out any hyphens, spaces and symbols. If the routing or account number is incorrect or is not accepted by your financial institution, your refund will be sent to you in the form of a paper check. Lines 30 50 If you enter a corrected amount in Column C of lines 30 through 50, you may be required to notify beneficiaries of any adjustments to their income. Report the corrected information on a new Schedule KF, and check the Amended KF box toward the top of the schedule. Signature The return must be signed by the fiduciary or authorized officer of the organization receiving, controlling or managing the income of the estate or trust. The person must also include his or her ID number. If someone other than the fiduciary prepared the return, the preparer must also sign. The preparer s ID number and phone number should also be included. You may check the box in the signature area to give us your permission to discuss your return with the paid preparer. This authorization remains in effect until you notify the department in writing (either by mail or fax) that the authorization is revoked. Checking the box does not give your preparer the authority to sign any tax documents on your behalf or to represent you at any audit or appeals conference. For these types of authorities, you must file Form REV184, Power of Attorney. 2